A mortgage survey due on Wednesday is expected to show that more and more Americans are in danger of losing their homes. The quarterly report from the Mortgage Bankers Association is also expected to show that the same mortgage products that helped send the housing market into the stratosphere are now weighing homeowners down.
In a hint at Wednesday's data, October saw more foreclosure actions than any other month this year according to RealtyTrac, an online marketplace for foreclosure properties.
Bush's conception of "ownership society" just means a society where ownership is relinquised to lenders. Sound's like the Grapes of Wrath cometh, once again.
Amercia Blog has more, here. Also, a TBTW flashback from nearly a year ago.
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